For those who missed it recently, when will we be able to increase vbnt space again?
Would it make sense to open up bnt on bnt/vbnt space for staking to increase the limit?
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i think the apr decreased enough for now. if the volume goes up and stays there then they should increase again to push down the apr again
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Why do they need to keep the Apr at a certain amount. Can’t everyone get a piece of it?
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I had discussed with some members in the discord about possibly trying to propose a whitelisting of sorts with a per wallet maximum so that we can guarantee more people are able to enter the vortex.
This is important because as it stands a big drawback to having very small amount of whales sustaining the pools makes vBNT ineligible for some lending platforms collateral onboarding process as was discussed in one of the community calls.
For the next opening of the pool we could for example whitelist all wallets that have provided liquidity since before the beggining of april and give each wallet a maximum of 2500 vBNT guaranteed space in the vortex. After a 48 hour time period for people to do their staking, all the space that wasn’t used up could get redistributed among the wallets that opted to stake or just be opened up to everyone. Keep in mind though as we saw this last time if we open space without conditions it will get instantly sniped by whales that can bid up the price and have flash bots.
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Wow absolutely, this is better, it’d incentivise staking too, which is brilliant. Will vote for this. When are you thinking about doing this?
Do you know why the bancor team doesn’t want to allow too much space in vbnt? Is it to because it disincentives governance/voting?
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There is some information about the limits in the vBNT-BNT pool in Bancor Vortex part 2: vBNT Whitelist Proposal which I have shared below. Essentially, my understanding is that we want to start small so that we can observe/test the vortex and what effects it has on the protocol before we update the minting limits.
Progression of the Bancor Vortex and vBNT Pool
The approval of BIP9 by governance is already complete; the approval of this proposal is the final approval step for the envisioned system. The whitelist status of the vBNT pool is ready for deployment already, and will be implemented with a proposed 250,000 BNT minting limit. Thus begins a short period to observe how users interact with the pool, what the leverage appetite is, optimize the front-end and educate the community on responsible use of this novel feature. During this time, the vBNT burning feature will be in its development and auditing process. After the vBNT burn feature begins, the full Bancor Vortex will be in effect. Another short period for testing and observation is then followed by an increase in the minting limit to 1,000,000 BNT. Thereafter, the minting limits are adjustable pending a DAO decision.
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I agree. Need to be mindful of how much or when you increase the size of the vBNT/BNT pool, starting small has been a great idea. Love the idea of limiting the amount staked per wallet, brilliant.
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